Federated Investors Inc. PA reduced its stake in KLA-Tencor Corp (NASDAQ:KLAC) by 34.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,838 shares of the semiconductor company’s stock after selling 112,928 shares during the period. Federated Investors Inc. PA owned 0.14% of KLA-Tencor worth $23,746,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Silvant Capital Management LLC bought a new stake in shares of KLA-Tencor during the first quarter worth about $123,000. First Mercantile Trust Co. increased its position in shares of KLA-Tencor by 121.7% during the first quarter. First Mercantile Trust Co. now owns 1,299 shares of the semiconductor company’s stock worth $142,000 after acquiring an additional 713 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of KLA-Tencor during the first quarter worth about $176,000. Advisor Group Inc. increased its position in shares of KLA-Tencor by 96.1% during the fourth quarter. Advisor Group Inc. now owns 1,941 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 951 shares in the last quarter. Finally, Grimes & Company Inc. bought a new stake in shares of KLA-Tencor during the first quarter worth about $203,000. 91.03% of the stock is owned by hedge funds and other institutional investors.
KLA-Tencor stock opened at $113.53 on Friday. KLA-Tencor Corp has a fifty-two week low of $87.93 and a fifty-two week high of $123.96. The stock has a market cap of $17.66 billion, a P/E ratio of 19.11, a PEG ratio of 0.88 and a beta of 1.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.07 and a current ratio of 3.78.
KLA-Tencor declared that its board has authorized a share buyback plan on Monday, March 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of KLA-Tencor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Citigroup boosted their target price on shares of KLA-Tencor from $122.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, April 30th. BidaskClub raised shares of KLA-Tencor from a “hold” rating to a “buy” rating in a research report on Tuesday, May 8th. Cowen assumed coverage on shares of KLA-Tencor in a research report on Monday, May 14th. They set an “outperform” rating and a $140.00 target price for the company. Finally, Susquehanna Bancshares raised shares of KLA-Tencor from a “negative” rating to a “neutral” rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. KLA-Tencor has a consensus rating of “Buy” and an average price target of $127.93.
In related news, CFO Bren D. Higgins sold 854 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $112.92, for a total transaction of $96,433.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.
KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nano-electronics industries worldwide. It offers chip manufacturing products, such as front-end defect inspection tools, defect review systems, advanced packaging process control systems, metrology solutions, in-situ process monitoring products, and lithography software; wafer manufacturing products comprising wafer manufacturing products comprising surface and defect inspection, wafer geometry and nanotopography metrology, and data management; and reticle manufacturing products, such as defect inspection and pattern placement metrology products.
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